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Wait for a pullback to pick a low risk buy from around 1.2976.

Wait for a pullback to pick a low risk buy from around 1.2976. | 05 December 2019

05 December 2019, GBP/USD

Wait for a pullback to pick a low risk buy from around 1.2976.

Technical Observation

yesterday, GBPUSD rallied intensely to the uperside and even went above the level 1.2976. The fact that the price successfully closed above this level is a clear sign that we are now buyers. My recommendations is not that we should pick a buy now, rather, wait for a pullback towards the just broken level 1.2976 to pick a long term buy order. And on the other side,should the price break and close below 1.2976, then this will bean ideal place to consider a possible long term sell order which must first break below the daily support 1.2760.

Trade Recommendations::

Wait for a pullback to pick a low risk buy from around 1.2976.

Imelda Maseno
Analyst of «FreshForex» company
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